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Mortgage Fraud Blog is the premier website for news and information on mortgage fraud and real estate fraud throughout the United States.
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 Rachel Dollar, the editor of Mortgage Fraud Blog, is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors. She is an author and a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is a shareholder with the law firm of Smith Dollar, PC, is licensed to practice law in California and maintains offices in Santa Rosa, California. Email Ms. Dollar
Mortgage Fraud Blog is co-sponsored by Interthinx the leading provider of fraud services and solutions for the mortgage industry.
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Thursday, November 03, 2005
American Home Files Civil Lawsuit Alleging Inflated Appraisal
American Home Mortgage Corp dba American Brokers Conduit brought a civil action in the Supreme Court for New York County against Allegiance Mortgage Corporation, Act Appraisal, Inc. and Karen Kertz (Please see update regarding professional identity theft suffered by Karen Kertz and dismissal of Act Appraisal, Inc. and Karen Kertz as defendants.) “to recover damages that American Home . . . suffered as a result of the purchase of a mortgage loan imbued with fraud, including a fraudulent appraisal.” According to the complaint, on November 20, 2003, American Home funded a mortgage loan submitted by Allegiance and secured by property at 742 North Lockwood Avenue, Chicago, Illinois. The loan was funded in reliance on an appraisal performed by Kertz on behalf of Act Appraisal that appraised the property as having a market value of $289,500. American Home sold the loan to Countrywide. The loan went into default and was foreclosed. According to the complaint, following default, Countrywide discovered ‘serious deficiencies’ concerning the appraised value of the property, occupancy status and undisclosed liabilities and demanded that American Home repurchase the loan. American Home’s review found the true market value of the property at the time the loan closed to be approximately $65,000, according to the complaint and found that the property appraised by Act Appraisal and Kertz and represented in the appraisal was not the property securing the loan American Home funded. The complaint includes causes of action for breach of contract (as to Allegiance), fraudulent appraisal (Act Appraisal and Kertz) and negligent misrepresentation (Act Appraisal and Kertz). The action was removed to the United States District Court for the Southern District of New York on September 9, 2005.
 mortgage fraud
Hello,
I have a similiar problem here in Alabama but it is me against a builder and I can not get any help. It is very obvious to me what they did, but no one wants to help. I ended up in Bankruptcy and lost everything thanks to them. Maybe you can give me some suggestions.
Sincerely;
Virgil Walden
Posted by on 11/07 at 04:30 AM This is the same exact thing that happened to me. It is obvious what they did, but I can’t seem to get any help. They hurt me bad. I couldn’t sell due to the over inflated appraisal and it also went into foreclosure. I also had a heart Attack over it all
Posted by on 11/16 at 07:59 AM
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Some Sources require Registration.
Marco Island Man Arrested in Ohio on Grand Theft Charge
Naples News
A man who claimed he was a broker is accused of bilking a long-time family friend out of more than $130,000.
Failed Mortgage Firm Trustee Allowed $50,000 in Fees
Union Leader
U.S. Bankruptcy Court Judge J. Michael Deasy will approve $50,000 in legal fees for the trustee of failed mortgage brokerage businesses Financial Resources Mortgage Inc. and CL&M Inc.
Bend Oregon Event to Help Homeowners Prevent Foreclosures
Oregon.Gov
As part of an ongoing effort to help homeowners avoid foreclosure, state agencies are organizing a foreclosure-prevention event in Bend on Saturday, March 27, 2010.
Shelbyville Man Gets 2-Year Sentence For Loan Fraud
Chattanoogan.Com
Prosecutor Gary Humble said the lost was approximately $2.3 million in the mortgage fraud involving hundreds of homes in the Shelbyville area.
Lend America, VP Ashley Banned from FHA
Housing Wire
Michael Ashley, the embattled former vice president of Federal Housing Administration (FHA)-backed mortgage originator Lend America, and the company he worked for, were permanently banned from doing business in the industry last week.
Countrywide Tries to Pin Blame on Insurer
Court House News
Countrywide Home Loans demands $111 million from Triad Guaranty Insurance, claiming Triad is trying to blame mortgage lenders for the insurer's role in the housing bubble and collapse.
Investors Say They Were Swindled in Property Scheme
Fox 13 Now
Utah Division of Consumer Protection is joining forces with a few investors who claim they have been cheated by an agency called "Utah Mini Ranches.
Greenfield Man Accused of Housing Scam
The Republic
A former real estate agent conned at least eight people by renting them properties actually owned by a federal agency and then running off with their deposits, prosecutors said.
Appraisal Institute Opposes Obama Administration's Plan for Homeowner 'Short Sales'
PR News Wire
Citing concerns about increased mortgage fraud, four organizations representing more than 35,000 real estate appraisers today voiced their opposition to changes to an Obama administration program that will encourage "short sales" of homes.
Ownership Rights to Get Another Look
TBO.Com
State lawmakers may beef up protections of property owners' rights by rewriting a law this spring that is at the center of a case of alleged fraud in Pasco County.
Previous Articles
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Trial coverage provided by Anne Mitchell, Crazy Fish Realty.
Follow Anne on Twitter.
Thursday, February 18, 2010
F. Jeffrey Miller Trial - 1 Convicted, 3 Acquitted
The jury deliberated for approximately 3 days after receiving their jury instructions. They asked one question:
Does ‘common sense' allow us to deduce what the banks may or may not been influenced by in order to make a loan?
Judge Julie Robinson responded by admonishing the jurors to read all of the instructions.
The jury presented its' verdict... Read More...
Thursday, February 18, 2010
F. Jeffrey Miller Trial Continued Testimony
As reported by Anne Mitchell, who viewed the trial:
Angela Parenza worked for Jeff Miller as the office manager for 7 or 8 years beginning in 1998. Parenza was indicted along with Miller and pled guilty to conspiracy to commit bank fraud and money laundering. Parenza testified that Miller or his contractors allegedly preferred to build all the... Read More...
Wednesday, February 10, 2010
F. Jeffrey Miller Trial Coverage Continued - Witness Testimony
Steve Middleton Testimony - Coverage Provided by Anne Mitchell
The Government continued in its cross examination of Steve Middleton. He was shown several HUD-1 statements involving sales of homes located in Overland Park, KS, and Olathe, KS. The HUD statements each allegedly showed line items of payments to (James) Moser & Associates, LLC's... Read More...
Monday, February 01, 2010
F. Jeffrey Miller Trial Coverage - Continued Witness Examination
According to Anne Mitchell, who is present in court for the trial:
Next Witness: Kelly Sanford
Kelly Sanford of the Federal Reserve was a short witness for the Government. Sanford manages electronic payments between banks and member financial institutions. He was shown copies of wire transfers and asked whether they coincided with the counts in... Read More...
Wednesday, January 27, 2010
F. Jeffrey Miller Trial - Prosecution Witnesses Continued
According to Anne Mitchell, who is viewing the trial:
January 13, 2010
Witness: Rick Hayes
Rick Hayes testified that on the day that he closed on his Miller Enterprise home, he received a phone call from the Kansas Banking Commission informing him that his loan was fraudulent. After the Hayes responded to a classified ad, they met with John...
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